If you happen to be in the market of selling an engagement ring, a chipped diamond will affect the resale value. Just as you probably wouldn’t have purchased a new chipped diamond, it’s not easy to sell one.
How do diamond diamonds even get chipped? Just because a diamond is a 10 on the Mohs hardness scale doesn’t mean that it can’t be chipped or broken. Hardness does not mean strongest. Diamonds can be chipped or broken when even setting them in the mounting. Even the location of an inclusion, impurity or cavity can structurally compromise a diamond near the girdle (the edge of a diamond). Sometimes jewelers try to position a chip under a prong so it’s not as noticed, or they’ll use a “bezel” style setting that fully hides the entire edge of a stone. Here’s some additional information on chipped diamonds directly from Jeweler’s Mutual.
If we receive a quote for a chipped diamond, we try to get an idea of what size diamond will get back if we have the stone recut. Our quotation is based on that factor along with the estimated cost of the the recutting fee. The hardest part about selling a chipped stone is find company that can accurately gauge what it will take to repair it and what size diamond will be the result. For example, a 1.04ct round diamond would lose a decent value percentage if the recutting estimate makes the diamond weigh less than a 1ct.
Here is tip or two on how to not chip the diamond. For stones with corners, like a pear, marquis, princess or radiant, do not set these stones in mountings (rings) that have exposed corners. The tiny corners could easily be broken or chipped and should be covered/protected by a prong. So make sure your jewelry is properly protecting your diamond and be aware of the environment. We suggest not wearing your diamond ring in places like the garden, because soil that has other rocks can easily chip a diamond.